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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Friday, May 18, 2012

Euro crisis now ensnares Spain

Euro crisis ensnares Spain - Telegraph: "Spain moved back into the eye of the eurozone storm on Thursday, as the country’s borrowing costs rocketed to unsustainable levels and the country's banking sector was hit by mass downgrades. . . ."

UK PM: Euro Zone At Make-Up Or Break-Up Cross-RoadsWall Street JournalBy Nicholas Winning LONDON (Dow Jones)--The euro zone is at a cross-roads and must tackle its debt crisis or face potential break-up, UK Prime Minister David Cameron said Thursday, warning its key trading partner. "Either Europe has a committed, ...

Eurozone concerns drag markets lowerBusinessWeekBy CARLO PIOVANO Fears surrounding the stability of the 17-country eurozone -- particularly the state of Spain's financial system and whether Greece might be forced out of the single currency union -- pushed global markets down again on Thursday.

UK's Cameron urges action to resolve euro crisisBusinessWeekBy ROBERT BARR British Prime Minister David Cameron on Thursday urged Europe to sort out its currency crisis, calling on the 17-country eurozone "to make-up or it is looking at a potential break-up." "Either Europe has a committed, stable, ...

Euro crisis: Should I cancel my vacation?CNNPolitical deadlock is leading to fears that Greece will not have a government in place when it needs to make critical debt payments, which could in turn jeopardize its place in the eurozone. On Monday, Greeks withdrew up to €800 million from Greek ...

UK PM: Core of Euro Zone, ECB Must Do More To Solve CrisisWall Street JournalLONDON (Dow Jones)--Core euro-zone countries and the European Central Bank need to do more to support demand and share the burden of economic adjustment for the nations in the thick of the currency area's crisis, UK Prime Minister David Cameron said ...

Greek Eurozone Exit Could Reverberate GloballyVoice of America (blog)The Greek economy accounts for just 2 percent of the economy in the 17-nation euro currency union, but if Athens exits the eurozone, the reverberations could be felt throughout the world. No country has quit the eurozone in its 13-year existence, ...

Eurozone concerns drag markets lowerSeattle Post IntelligencerPhoto: Daniel Ochoa De Olza / AP LONDON (AP) — Fears surrounding the stability of the 17-country eurozone — particularly the state of Spain's financial system and whether Greece might be forced out of the single currency union — pushed global ...

GLOBAL MARKETS-Stocks, oil drop on latest euro zone fearsReuters"The whole equities market is being driven by a macro trade based upon contagion fear in Europe, and really the problem is undercapitalized banks there," said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.

British PM tells Europe to quell the turmoilReutersBy Matt Falloon MANCHESTER, England May 17 (Reuters) - Prime Minister David Cameron urged Europe's rulers on Thursday to do more to quell the euro zone debt crisis and raised the prospect of a Greek default to argue he must stick to his unpopular ...

UK Says PM Had 'Constructive Discussion' With European G8 LeadersWall Street Journal"He discussed with the others their priorities for G-8; the euro zone - including Greece, growth, and the importance of expanding trade relations between the US and the EU [European Union]," a spokesperson for his office said in a statement following ...

UK PM: Euro Zone At A Cross-RoadsWall Street JournalLONDON (Dow Jones)--The euro zone is at a cross-roads and must tackle its crisis or face potential break-up, UK Prime Minister David Cameron is due to say Thursday in a stark warning of the crisis in its key trading partner.

Oil falls on euro zone worries, weak economic dataCNBC.comNEW YORK (Reuters) - Brent crude oil slumped more than 2 percent on Thursday, touching the lowest price since December, as investors avoided risky assets due to mounting fears that turmoil in Greece could spread to other stressed euro zone economies.

Euro zone fears starting to hit trade, financingReuters(Recasts with euro zone comments) LONDON May 17 (Reuters) - The euro zone debt crisis is affecting trade as companies shy away from dealing with firms and banks in countries deemed at risk of contagion, a senior banker said on Thursday.

GLOBAL MARKETS-Spreading euro zone fears send shares lowerReutersBut the contagion fears in Europe and jitters over political turmoil in Athens, where politicians rejecting harsh austerity measures are likely to win June 17 elections, have kept riskier assets under pressure. The euro was down around 0.1 percent, ...

Germany, with its economy booming, has little sympathy for GreeceKansas City StarSince the euro crisis began, a Berlin housing boom has seen rents rise by 70 percent in posh districts, and 23 percent even in dicey areas. And this newly forming housing bubble is just one of many signs that the fortunes of Germany and the eurozone it ...

Spreading euro zone fears send shares lowerCNBC.comLONDON (Reuters) - The euro slipped to near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro ...

Merkel faces G8 isolation on eurozoneFinancial TimesBut the eurozone will overshadow all other conversations. “This is a euro crisis summit. It will be dominated by the crisis,” said Heather Conley, a former state department official now at the Center for Strategic and International Studies, ...

Spanish Bank Problems Add to Gloom in Euro ZoneNew York TimesBRUSSELS — Mounting problems for Spain and its banks, and a broad stock market decline Thursday in Europe, were the latest signs of the deepening gloom in the euro zone. And if remarks Wednesday by Chancellor Angela Merkel could be construed as a ...

Euro crisis' vulturesSalonNow, the euro zone increasingly appears to be in a terminal mess. Growth has stagnated. Debt is out of control. In vulnerable countries like Spain, interest rates are veering toward usury. Governments are bailing out banks. And Greece has imploded, ...Salon

A Primer on the Eurozone Crisis and How It Could Affect UsHuffington Post (blog)The economic viability of the Eurozone continues to slowly leech away. The latest iteration of the crisis originated again in Athens. Last week, voters there chose parties on the left and right that agreed on one thing: No more austerity, ...

David Cameron: Eurozone 'at a crossroads'UPI.comMANCHESTER, England, May 17 (UPI) -- British Prime Minister David Cameron said Thursday Europe's 2008 financial crisis "never really went away" and urged the purchase of "eurobonds." His remarks in Manchester preceded an afternoon of conference calls ...UPI.com

Oil dips further below $93 on euro crisis concernBusinessWeekBy PABLO GORONDI Oil prices edged further below $93 a barrel on Thursday, extending a sharp two-week sell-off, as traders monitored Europe's debt crisis and its potential impact on global growth. By early afternoon in Europe, benchmark oil for June ...

UK's Cameron Urges Action on Euro CrisisTIMEBy AP Thursday, May 17, 2012 (LONDON)— British Prime Minister David Cameron is urging Europe to sort out its currency crisis, calling on the 17-country eurozone to "to make-up or it is looking at a potential break-up. In a speech prepared for delivery ...

DAVID CAMERON: The Eurozone Needs To 'Make-Up Or Break-Up ...By AP"Either Europe has a committed, stable, successful eurozone with an effective firewall, well capitalized and regulated banks, a system of fiscal burden sharing, and supportive monetary policy across the Eurozone. Or we are in uncharted ...Clusterstock

Eurozone Bank Worries Send Euro Lower — Forex NewsBy MMarquit1200 euros Eurozone bank worries are sending the euro lower today, along with rises to funding costs. Uncertainties about what's next for Greece and for the eurozone remains, and that is weighing on the euro in Forex trading right now.Forex News

Forex - USD/CAD higher as euro zone fears boost safe haven ...By ForexprosForexpros - The U.S. dollar rose to a four-month high against its Canadian counterpart on Thursday, as demand for the safe haven greenback remained supported amid concerns over the crisis in the euro zone. USD/CAD hit 1.0157 during ...Forex Pros RSS News Feed | Forex News

Fuel Fix » Stocks relapse on chronic eurozone fearsBy FT.com - EnergyPosted on May 17, 2012 at 7:09 am by FT.com - Energy in. Concerns of a Greek exit from the euro left many benchmarks at multi-month troughs. Read more from Financial Times · « Previous Post · Next Post » · FT.com - Energy. You can read ...Fuel Fix

EconoSpeak: The Problem with the Eurozone's Throw-Greece-from ...By Peter DormanThere is no democratic deficit in Greece: its people have clearly indicated they want to do two things, clean the slate by defaulting on their debts and staying within the Eurozone. This is seen as unacceptable in Brussels and Frankfurt, and ...EconoSpeak